17% of respondents have calculated and are making the required contributions for their pension.

18% of respondents will reach their targeted pension pot.

41% of respondents would like the opportunity to save for a pension scheme and for a rainy day through payroll.

Lindsay Melvin, chief executive officer of the CIPP, said: “With pensions at the forefront of the government agenda due to the new work-based pension regulations coming into force, these findings are extremely worrying.

“The extreme lack of awareness surrounding the new system, coupled with the fact that such a significant amount of people don’t have any form of pension whatsoever, private or work, will have a huge ripple effect later down the line when many start to reach pension age.

“Some people may even find that they can never fully retire if they carry on without giving their pension provision serious consideration.”